Tax Reform Bill A Blueprint For Grand Compromise

Law360, New York (February 26, 2014, 7:13 PM EST) -- A 979-page tax code overhaul unveiled Wednesday borrows ideas from both sides of the aisle to lower rates without increasing the deficit, but former lawmakers say upcoming elections could delay the proposals for years.

The Tax Reform Act of 2014, published by House Ways and Means Chairman Dave Camp, R-Mich., triples the standard deduction, simplifying the process for a projected 95 percent of Americans who would claim it instead of itemizing. Individuals would be taxed in one of just two brackets at either 10 or 25...
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